3 bd · 1.5 ba ·
1,645 sqft ·
Built 1910
· SingleFamily
· Pending
· 4 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,245/mo
Mortgage (P&I)
−$681
Tax + insurance
−$211
HOA
−$0
Vac / Maint / Mgmt
−$261
Net cashflow
$91/mo
Annual
$1,094/yr
Cap rate
7.14%
Cash-on-cash
3.01%
DSCR
1.13
1% rule
0.96%
Cash to close
$36,372
Investor read
This is a 3-bed/1.5-bath single-family listed at $130k.
At list price, monthly cash flow is $91 ($1k/yr) — positive.
The deal already cash-flows at list — no discount required.
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (4.2% below list).
Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
Recommended offer: $124k (4.2% below list) — sets the bar for 1% rule.
Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
Location reads 71/100 on livability (#127 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
Salina (town): math 21% / reading 30% proficiency, ranked #134 of 169 in KS (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
Zoned schools: Oakdale Elem (math 22% / reading 37%, grade F, #463 of 684 statewide, top 73%, 290 students, 82% FRL); Lakewood Middle School (math 11% / reading 23%, grade F, #167 of 219 statewide, top 78%, 688 students, 65% FRL); Salina High Central (math 8% / reading 24%, grade F, #247 of 327 statewide, top 75%, 944 students, 57% FRL) — zoned schools average 68% FRL vs 50% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
Market conditions: Rents rising fast (+5.7%/yr); 330 active listings in the ZIP; 293 units permitted in Saline County in 2024 (186 in 5+ unit buildings).
Saline County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
4 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
Current owner paid $82k; list at $130k implies a 58% gain — meaningful room to come down on a strong offer.
Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Questions for listing agent
Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.
CashFlowRE · CFR-3Q5S0V7TK0S7T0
· Data 4 weeks agocashflowre.app · 2026-05-29